June 28: Spectrum Auction; iPhone 4-1.7M Sold; Facebook-$?; Ringtone Royalties

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June 28, 2010 · Today's Sponsor:
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Washington - President Obama on Monday committed the government to auctioning off an additional 500 megahertz of federal and commercial spectrum, citing a "spectrum crunch" as demand increases for services like online video. [more..]
Cupertino, Calif. - Apple announced on Monday that it sold over 1.7 million iPhone 4 units between last Thursday, when the device first went on sale, and Saturday, June 26. [more..]
Palo Alto, Calif. - Elevation Partners, the investment firm co-founded by U2 lead singer Bono, has significantly increased its stake in social networking giant Facebook, TechCrunch reported on Monday. [more..]
Washington - A federal appeals court last week upheld the Copyright Royalty Board's rate of 24 cents for songwriters on mobile phone ringtones, Law.com reported. [more..]
San Francisco - Performing rights organization ASCAP has urged its members in a fundraising letter to send donations so ASCAP can battle groups it deems to be undermining copyright, which ASCAP listed to include the Electronic Frontier Foundation (EFF), Public Knowledge and Creative Commons. [more..]
New York - Foursquare, the location-based social network that hit one million users in April, is in the final stages of talks on raising financing at a valuation of about $80 million, All Things D reported, citing sources. [more..]
Santa Monica, Calif. - Geodelic, a developer of location-based mobile applications, has raised $7 million in its second round of financing, led by MK Capital, TechCrunch reported. [more..]
Irvine, Calif. - HitFix, the developer of an entertainment journalism online resource, said on Monday that it has raised $1.6 million in second round funding, led by Tech Coast Angels. [more..]
Norfolk, Va. - BN Media, the investor group behind nonprofit content site Cross Bridge and affinity marketer Affinity4, said that it has acquired New York-based spirituality site Beliefnet from owner News Corp.
[more..]

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Briefly Noted

Los Angeles - The components that make up Apple's 16GB iPhone 4 cost about $187.51, according to estimates derived from a physical teardown of the product by market research firm iSuppli. [more..]
Los Angeles - Sony's Columbia Pictures on Monday posted a teaser trailer for its forthcoming movie about the founding of Facebook, "The Social Network." [more..]
Seattle - Amazon.com on Monday released an update to its Kindle e-book reader applications for Apple's iPad and iPhone that adds the ability to play embedded video and audio clips in Kindle books. [more..]
Palo Alto, Calif. - Digital entertainment distributor mSpot on Monday announced the public launch of its cloud-based music service, which lets users access their music collections over the Internet via computers and smartphones. [more..]
London - Music video portal Vevo now counts 50 million monthly unique visitors, 80% of which arrive via the service's YouTube channel -- which is available overseas, while the dedicated site is not -- CEO Rio Caraeff told the Financial Times. [more..]
Los Angeles - Swedish police last week conducted raids and arrested three individuals alleged to be involved with "Darkside," a group of servers said to house 130 terabytes of copyrighted movies being distributed without permission, TorrentFreak reports. [more..]
Los Angeles - Web file-hosting service RapidShare has launched a new service that lets users sell their own file downloads from the company's servers, starting at $87 per month, NewTeeVee reported. [more..]
Los Angeles - Dick Clark Productions has digitized 30 years worth of episodes of "American Bandstand" and "Dick Clark's New Year's Rockin' Eve" for distribution through a new licensing website, according to The Hollywood Reporter. [more..]
San Francisco - Digital media distributor INgrooves said on Monday that it has signed new distribution deals with U.K. labels San City High, Upside Records, Genepool, Prime Direct Distribution and Groove Groove Melody. [more..]

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